62 chapters · 2,555 sections in this title.
Ark. Code Ann. § 6-20-803 Loans to local school districts
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(a) The maximum amount of money a local school district may borrow from the Revolving Loan Fund shall be five hundred thousand dollars ($500,000). (b) Notwithstanding subsection (a) of this section, a school district participating in the Compressed Natural Gas School Bus Pilot Pr…
Ark. Code Ann. § 6-20-804 Application for loan
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(a) (1) The board of directors of any school district desiring to borrow money from the Revolving Loan Fund, acting through its chair or president, and secretary, shall file a formal application with the State Board of Education.(2) The application shall contain the following inf…
Ark. Code Ann. § 6-20-805 Approval, partial approval, or disapproval of loans
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(a) (1) Within a reasonable time after its receipt, each application shall be examined by the Commissioner of Elementary and Secondary Education as to accuracy with respect to answers contained therein relating to fiscal matters.(2) A statement of the commissioner's findings, tog…
Ark. Code Ann. § 6-20-806 Revolving loan bonds and certificates of indebtedness
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(a) (1) Each such loan that is to be amortized or paid in full, both principal and interest, within or at the end of ten (10) years from the date of its approval by the State Board of Education shall be evidenced by the school district's obligations that shall be designated and k…